Vector Group price target raised to $16 from $15 at Barclays

Barclays analyst Pallav Mittal raised the firm’s price target on Vector Group to $16 from $15 and keeps an Overweight rating on the shares. Tobacco stocks had a strong Q2 as market multiples are set not on what is happening now, but on what could happen in the terminal year, the analyst tells investors in a research note. The firm rolled forward its price targets by six months and increased multiples by 10%.